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What is a Vanderbilt mortgage?

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Quick Answer

A Vanderbilt mortgage is a mortgage that is granted and serviced by Vanderbilt Mortgage and Finance. Vanderbilt Mortgage and Finance is part of Berkshire Hathaway and specializes in providing financing for manufactured homes. The company also sells pre-owned homes that have been foreclosed on through VMF Homes.

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Full Answer

Loan products that are offered by Vanderbilt Mortgage and Finance include conventional mortgages, biweekly advantage mortgages, land-home mortgages and FHA mortgages. A conventional mortgage is a standard mortgage that is based on a fixed term and a fixed interest rate. The biweekly advantage mortgage gives customers the option to make half of their mortgage payments every two weeks, which allows them to pay more payments toward the principle of the loan. Land-home mortgages are designed for customers who want to purchase a manufactured home along with land to put the home on. FHA mortgages are loans that are sponsored by the Federal Housing Administration.

Vanderbilt Mortgage and Finance is a partner of Clayton Homes. The company has multiple offices in the United States, including Maryville, Tennessee, and Dallas, Texas. New customers can apply for mortgage products offered by Vanderbilt Mortgage and Finance online, or they can contact customer service via phone at 1-866-701-0467, as of May, 2015. Existing customers can contact customer service at 1-800-970-7250.

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